Gunn: “two-track system” will be used to help small businesses

posted in: Mississippi News | 0

On Wednesday, Speaker of the House Philip Gunn joined The Gallo Show to talk about the “two-track system” that the Mississippi Legislature has decided to utilize in order to disburse federal funding to small businesses of Mississippi.

“We have identified a number of areas that we want to try and address with the CARES Act money. First and foremost, small businesses,” Gunn said. “We have had a lot of meetings discussing those things and the objective today, I think, is to get our small business plan passed and get it out and get the money to start going to our small businesses.”

The plan that Gunn and the rest of the legislature are trying to get passed and sent to the desk of Governor Tate Reeves for approval has been referred to as the “Idaho model.”

“Idaho had a plan that we think was very good,” Gunn said. “It’s an application-based plan, where those businesses that have been shut down or struggled during this time can make an application. They meet the criteria, and they get checks. It’s pretty simple.”

While the Idaho model will provide a way for small businesses to apply for relief, Gunn also noted there will be a non-application track for businesses to receive money.

“We are going to have a two-track system basically,” Gunn said. “An application track and a non-application track for those who were forced to close.”

Hopefully, the legislature can start disbursing money to small businesses sooner rather than later as 99.3 percent of Mississippi businesses are considered small businesses, and 100 percent of those businesses have been negatively affected by COVID-19.

To watch the full interview with Gunn, click the video below.

The post Gunn: “two-track system” will be used to help small businesses appeared first on News Mississippi.